Skip to content

Ask the Tutor ACCA AA

non current asset register

TTuan2y ago
I want to ask: Is the non current asset register part of the general ledger or not?
KimKimTutor2y ago#1
Short answer NO. The general ledger includes a/cs for cost and depreciation for each class of asset. Say a company bought three cars together, the debit to the vehicles cost a/c would be the total. The register should record each individual asset including lots more information that isn't included in the double entry .... serial number, location, estimated useful life/residual value etc.
Sign into reply to this topic.